Mason Street Advisors LLC purchased a new stake in shares of NiSource Inc. (NYSE:NI) during the second quarter, Holdings Channel reports. The firm purchased 43,310 shares of the company’s stock, valued at approximately $1,149,000.
A number of other hedge funds have also bought and sold shares of NI. Cohen & Steers Inc. raised its stake in NiSource by 14,608.3% in the second quarter. Cohen & Steers Inc. now owns 97,537,000 shares of the company’s stock worth $95,586,000 after buying an additional 96,873,859 shares in the last quarter. Vanguard Group Inc. increased its position in NiSource by 12.2% in the second quarter. Vanguard Group Inc. now owns 33,580,911 shares of the company’s stock worth $890,566,000 after buying an additional 3,654,293 shares during the last quarter. Norges Bank bought a new position in NiSource during the fourth quarter worth about $63,763,000. AXA bought a new position in NiSource during the first quarter worth about $50,418,000. Finally, State Street Corp increased its position in NiSource by 14.9% in the second quarter. State Street Corp now owns 16,070,267 shares of the company’s stock worth $426,183,000 after buying an additional 2,088,701 shares during the last quarter. Institutional investors and hedge funds own 82.28% of the company’s stock.
Shares of NiSource Inc. (NYSE:NI) opened at 25.11 on Monday. The company has a market cap of $8.09 billion, a P/E ratio of 30.55 and a beta of 0.25. NiSource Inc. has a 12 month low of $17.67 and a 12 month high of $26.94. The company’s 50 day moving average is $24.44 and its 200 day moving average is $24.32.
NiSource (NYSE:NI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. NiSource had a net margin of 6.18% and a return on equity of 8.75%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, equities research analysts predict that NiSource Inc. will post $1.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Monday, October 31st will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.66 annualized dividend and a yield of 2.63%. NiSource’s dividend payout ratio (DPR) is 80.49%.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of NiSource from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Friday. KeyCorp set a $27.00 target price on shares of NiSource and gave the company a “buy” rating in a research note on Monday, September 12th. Credit Suisse Group AG downgraded shares of NiSource from a “neutral” rating to an “underperform” rating and set a $25.00 target price for the company. in a research note on Friday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $26.00 target price on shares of NiSource in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. raised their target price on shares of NiSource from $18.08 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. NiSource presently has an average rating of “Hold” and an average price target of $25.09.
In other NiSource news, VP Teresa M. Smith sold 1,200 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $23.75, for a total value of $28,500.00. Following the completion of the sale, the vice president now directly owns 37,883 shares of the company’s stock, valued at approximately $899,721.25. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is currently owned by company insiders.
NiSource Inc is an energy holding company. The Company is engaged in the distribution of natural gas. The Company operates through two business segments: Gas Distribution Operations and Electric Operations. The Gas Distribution Operations segment provides natural gas service and transportation for residential, commercial and industrial customers in Ohio, Pennsylvania, Virginia, Kentucky, Maryland, Indiana and Massachusetts.
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